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Gold/Mining/Energy : PHILADELPHIA GOLD AND SILVER INDEX: XAU
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To: Wade who wrote (21)2/24/1997 7:31:00 AM
From: Dan P   of 28
 
Wade:

You may well be right about the possibility that the U.S. has taken
on a more positive attitude toward South Africa.

However, my thinking is that if we have a significant move up in gold,
and I believe that we will, that the S.A. stocks, very undervalued as
you suggest, but also very leveraged to the price of gold as they
are high-cost producers, stand to benefit more than the N.A. counter-
parts on such a move up in bullion.

Besides, technically, I follow a few S.A. stocks, and they are an excellent buy at this juncture.

Regards

Dan
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